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Sep 30, 2024
VNB Q3 2024 Earnings Report
Reported a net income for the third quarter of 2024.
Key Takeaways
Virginia National Bankshares Corporation reported a net income of $4.6 million, or $0.85 per diluted share, for the quarter ended September 30, 2024. Loan balances increased by 11% during 2024 and 19% year-over-year. Credit quality metrics remained strong, and capital and liquidity positions continued to be solid and stable.
Return on average assets increased to 1.15% from 1.05%.
Return on average equity increased to 11.44% from 11.07%.
Net interest margin improved to 3.24% from 3.04%.
Loan-to-deposit ratio increased to 88.1% from 84.3%.